Thomas F. Miles, Attorney and Counselor at Law
Call Today! 619-631-4833 Toll-Free 866-471-0416

Chapter 13 Archives

How does Chapter 7 differ from Chapter 13 bankruptcy?

As a previous post highlighted, filing for a Chapter 7 bankruptcy can help a debtor obtain a fresh financial start. California residents struggling with financial problems probably understand that there are mechanisms that could help with their debt situation. However, not everyone explores how the bankruptcy process could assist him or her. The term bankruptcy is a tough one to include in one's vocabulary, but even if Chapter 7 is not right for one person, there are other bankruptcy and debt relief options. One of these options is to file for a Chapter 13 bankruptcy.

Who should consider Chapter 13 bankruptcy?

If you are in debt, it is important to weigh all your possible options before making a decision on how to best tackle your plight. For some people, even the word bankruptcy can sound scary and intimidating. But the reality is that bankruptcy is designed to help people get out of debt so that over time they will have a fresh start. One possible consideration is Chapter 13 bankruptcy, though it is important to understand that one must qualify and meet certain conditions to be eligible. Over the next two weeks we will discuss all the necessary requirements one needs to qualify for Chapter 13 bankruptcy.

Some factors that can make a person ineligible for Chapter 13

Chapter 13 bankruptcy has a set of requirements that must be met for a person to be eligible to file for bankruptcy under it, if these requirements are not met then the person will be considered ineligible and will not be allowed to do so. These are the factors that can make a person ineligible:

Advantages and disadvantages of declaring Chapter 13 bankruptcy

Chapter 13 bankruptcy is commonly recognized as the reorganization bankruptcy. This form of bankruptcy essentially eliminates the need to sell all of the person's assets for repayment and instead replaces this with a repayment scheme which makes use of the income of the person to gradually pay off outstanding payments. Chapter 13, as with all plans, has its own advantages and disadvantages.

What are my duties under a Chapter 13 plan?

No one plans to let debt overwhelm them. Most of us have every intention of paying our creditors. But sometimes life intervenes. It may be a lost job or a demotion that has you struggling to make payments. Or it could have been a medical emergency you had no way of foreseeing. Regardless of the reasons, if you find yourself getting calls and letters from creditors and you see no way out, you may be considering filing for Chapter 13 bankruptcy.

How to retain a home through Chapter 13 bankruptcy

For California homeowners who are facing financial struggles, hanging on to the family home is often a top priority. However, the loss of an income, mounting medical debt, unexpected expenses and other circumstances can make it nearly impossible to stay on top of one's monthly mortgage obligation. For those who are committed to keeping their home and restructuring their finances, chapter 13 bankruptcy can offer a solution.

After recent ruling, Chapter 13 still best option for many

For California homeowners who are struggling under insurmountable debt, bankruptcy offers a real solution. That said, knowing which type of bankruptcy to file can be a challenge. Many consumers pursue Chapter 7 bankruptcy, due to the fact that it can lead to the discharge of many types of consumer debt. After a recent Supreme Court ruling, however, some will find that Chapter 13 offers a better fit for their financial needs.

Supreme Court decision impacts Chapter 13 bankruptcy

A recent ruling by the U.S. Supreme Court could have a significant impact on the bankruptcy cases of many California residents. The unanimous ruling states that individuals who file for bankruptcy cannot make an immediate appeal of a court's rejection of a Chapter 13 debt repayment plan. For those in California who are planning to seek bankruptcy protection, the case should be taken into consideration when creating a repayment plan to present to the Bankruptcy Court.


Thomas F. Miles, Attorney and Counselor at Law
152 West Park Ave
El Cajon, CA 92020

Map & Directions